Kazakhstan’s trade turnover with EAEU countries
Mutual trade between Kazakhstan and the Eurasian Economic Union countries from January to September exceeded US$12 million. According to the Kazakh Ministry of Economy, this figure is 30% higher comparing to the same period last year. Kazakhstan exported goods worth US$4 million while the imports from the EAEU member states amounted to US$9 million. According to the data by the ministry, Kazakhstan exports mostly mineral products, metals, metal goods, chemicals as well as meat and vegetable products, machinery and equipment.The republic imports machinery and equipment as well as mineral and chemical commodities from the EAEU countries. In total, Kazakhstan’s trade turnover with Russia accounts for 92 %, 4.5% with Kyrgyzstan and 3.6 % with Belarus of the total turnover with the EAEU countries. Political scientist Eduard Poletayev points out that cooperation with neighboring states as well as other members of the EAEU will create a synergistic effect which means strengthening each of the parties.
EDUARD POLETAYEV, POLITICAL SCIENTIST:
- Bilateral or pentagonal cooperation as part of the EAEU can use the synergy effect. The cooperation also can promote and propose to change the trade turnover structure to the products of high redistribution. It's no secret that the Unified Energy System, unlike some of other associations, has a planning horizon until 2025. Several common markets should be created by this year, including the electricity market, the oil and gas market. We must admit that the trade turnover between our countries is growing. According to the data of the 9 months, this year the trade turnover has increased by one third. This sets optimistic mood.